The Nigerian equities market has lost N5.9 trillion in market value over a two-week sell-off.

Market capitalisation fell from a recent high of N160.42 trillion on Monday, 10 August 2026, to N154.53 trillion by Friday, 21 August.

BUA Foods and MTN Nigeria accounted for nearly half of the total decline. BUA Foods shed N1.521 trillion as its share price dropped from N845.10 to N760.60, while MTN Nigeria lost N1.386 trillion, with its price falling from N845.00 to N779.00 after a dividend adjustment.

The All-Share Index also came under pressure, dropping below the 240,000-point mark for the first time since early July. It closed at 239,351.16 points on 21 August, down 3.69 per cent from 248,529.75 points two weeks earlier.

The correction began on 11 August after the market reached its recent peak. Analysts have attributed the selling pressure to profit-taking following strong year-to-date gains, as well as broader investor repositioning. Despite the recent losses, the market remains significantly higher for the year.